Wedmont Private Capital Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

Wedmont Private Capital cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 11.7% in the 4th quarter, HoldingsChannel reports. The fund owned 12,564 shares of the oil and gas company’s stock after selling 1,658 shares during the quarter. Wedmont Private Capital’s holdings in Schlumberger were worth $485,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Oppenheimer Asset Management Inc. raised its holdings in Schlumberger by 50.7% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 6,133 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 2,063 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Schlumberger by 10.4% during the second quarter. Envestnet Asset Management Inc. now owns 927,875 shares of the oil and gas company’s stock worth $43,777,000 after purchasing an additional 87,236 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Schlumberger by 40.4% in the second quarter. Brown Brothers Harriman & Co. now owns 17,990 shares of the oil and gas company’s stock worth $849,000 after purchasing an additional 5,179 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its position in Schlumberger by 21.1% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 11,847 shares of the oil and gas company’s stock valued at $559,000 after purchasing an additional 2,061 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. lifted its holdings in Schlumberger by 9.6% in the 2nd quarter. Pekin Hardy Strauss Inc. now owns 23,011 shares of the oil and gas company’s stock worth $1,086,000 after buying an additional 2,015 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $40.68 on Thursday. The firm’s 50 day moving average price is $40.95 and its 200-day moving average price is $42.95. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $57.45 billion, a PE ratio of 13.08, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the business posted $0.78 EPS. Schlumberger’s revenue was up 10.2% on a year-over-year basis. Equities research analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Analyst Upgrades and Downgrades

SLB has been the subject of several research reports. Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Thursday, October 3rd. Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, TD Cowen reduced their target price on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $56.58.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Company Profile

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.